NI Holdings, Inc. (NASDAQ:NODK) Short Interest Up 87.7% in March

NI Holdings, Inc. (NASDAQ:NODK) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 57,199 shares, an increase of 87.7% from the February 26th total of 30,472 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 18,607 shares, the short-interest ratio is presently 3.1 days.

NI Stock Performance

NODK traded down $0.23 on Friday, hitting $12.69. 10,916 shares of the company were exchanged, compared to its average volume of 15,210. NI has a 12 month low of $12.01 and a 12 month high of $14.70. The firm has a fifty day simple moving average of $13.27 and a two-hundred day simple moving average of $13.42. The stock has a market capitalization of $260.55 million, a PE ratio of -25.89 and a beta of 0.39.

NI (NASDAQ:NODK) last issued its earnings results on Friday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter. NI had a negative return on equity of 4.24% and a negative net margin of 3.65%.The firm had revenue of $60.99 million during the quarter.

Institutional Investors Weigh In On NI

Several institutional investors and hedge funds have recently added to or reduced their stakes in NODK. Russell Investments Group Ltd. boosted its holdings in shares of NI by 158.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after purchasing an additional 2,505 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of NI by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after purchasing an additional 2,426 shares in the last quarter. AQR Capital Management LLC acquired a new stake in NI during the 1st quarter valued at $143,000. AE Wealth Management LLC acquired a new position in shares of NI in the third quarter worth $151,000. Finally, Barclays PLC boosted its stake in shares of NI by 11.9% during the fourth quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after acquiring an additional 1,359 shares during the last quarter. Institutional investors and hedge funds own 21.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of NI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About NI

NI Holdings, Inc underwrites property and casualty insurance products in the United States. Its products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc